new $600 tax bill about to pass and ebay will place 600 limit?

[seller0]

new bill about to pass house before the end of this year will it pass? if it will ebay limit account on $600?

[yankee]

Originally Posted by seller0

new bill about to pass house before the end of this year will it pass? if it will ebay limit account on $600?

It is not about to pass. It was the last major stimulus package and was signed into effect before they issued those checks.

They will be WITHHOLDING 24% or more of all receivables if the tax ID is not confirmed. But that is a lot of work so most third party processors will require a matching Tax ID/name before allowing to sell.

Venmo, paypal, MP, amazon, Stripe, etc.... all have the new laws in place by the 22nd of this month. Some wont take action until January 1st, some the 20th of January.

ALL third party credit processors will be issuing 1099K for accounts that handle $600 over the course of a tax year.

[seller0]

so all new ebay users will need tax id when signing up on eBay starting January ?
Or they will just limit account when it reaches 600 and ask for one?

[yankee]

Originally Posted by seller0

so all new ebay users will need tax id when signing up on eBay starting January ?
Or they will just limit account when it reaches 600 and ask for one?

Cant have an account WITHOUT a Real Name and Real tax number now. That is everyplace including venmo, zelle, cahsapp, etc..

[seller0]

Originally Posted by yankee

Cant have an account with a Real Name and Real tax number now. That is everyplace including venmo, zelle, cahsapp, etc..

not ebay at the moment

[bytor3k]

Originally Posted by seller0

not ebay at the moment

It's not 2022 yet.